Financial Information
Efficient Use of Funds
HopeSource has worked hand in hand with the people of Kittitas County since 1967 to address problems of poverty among our neighbors. HopeSource manages a diverse portfolio of programs including homeless housing, youth programs, food and nutrition, elderly and disabled supports, home weatherization, utility assistance, and veterans’ services. Based in Kittitas County, HopeSource serves six counties in central Washington.
Our mission is to move people to self-sufficiency by providing access to education, employment, economic development and vital services. We ran a budget of approximately 5.19M in 2016, 5.90M in 2017, 6.47M in 2018 and 7.53M in 2019. Since 2004, we have continually received a clean audit report from external auditors on the presentation and accountability of the funds we receive from grantors.
The latest Audit report shows that the current ratio (an accounting device that shows the ability of an organization to meet its short term financial obligations) was 1.90 in 2019. The net assets have increased from 1,033,474 in 2016 to 3,094,652 in 2019. A consistent record was maintained regarding the way we spend the money we receive. For the year 2019 we spent 9% on administration. In real terms, this means that only $9 of each $100 we received in 2019 went towards administrative expenses. During this time period we have increased our services and accomplished even more towards helping others in our community than we had in previous years.
We feel this is an excellent time for us to explore additional opportunities, both for better helping the targeted population, and the available resources to land such opportunities.
Please forward all financial questions that you have to info@hopesource.us or call (509)925-1448.
